Mukesh Ambani owned Reliance set to acquire majority stakes in Walt Disney's India businesses

In a groundbreaking move, Mukesh Ambani owned Reliance Industries has reportedly inked a "binding pact" for a merger deal with Walt Disney's India businesses.

Mathew K
New Update
Mukesh Ambani

Mukesh Ambani (Source: Twitter)

In a groundbreaking move, Reliance Industries has reportedly inked a "binding pact" for a merger deal with Walt Disney's India businesses. It marks a significant transformation in India's multi-billion-dollar entertainment industry. India already boasts one of the world's largest entertainment markets, and this merger is poised to create an expansive and formidable entertainment giant.

The expected terms of the deal indicate that the media unit of Reliance and its affiliates will secure a substantial 61 per cent stake in the merged entity. The remaining 39 per cent stakes will be with Disney and its associates. The deal, valued at over Rs 80 crore, positions Mukesh Ambani's conglomerate to become the majority stakeholder in the largest streaming platform in India.

This strategic move by Reliance Industries also involves a planned infusion of Rs 12451 crore into the newly formed media entity. Post-merger, industry analysts predict increased competition for streaming giants like Netflix and Amazon Prime.

As Jio Cinema, with its potential low-cost plans, aims to dominate the market, it might prove a killer for others. Furthermore, there are speculations that Jio might introduce budget-friendly add-on plans in conjunction with Jio recharge. It will cater to both telecom and over-the-top (OTT) users.

Mukesh Ambani is set to host Robert Iger at his son’s wedding!

The timing of this deal coincides with the impending visit of Disney Chief Robert Iger to India on March 1. During this visit, he is set to attend the wedding of Mukesh Ambani's son, Anant Ambani, in Gujarat. The merger adds another layer to the ongoing narrative of Mukesh Ambani's business acumen.

He also solidifies his status as the richest individual in India, boasting a colossal net worth exceeding Rs 972906 crore. Reliance Industries, with a market capitalization of Rs 2021,000 crore, stands as the most valuable company in the Indian share market.

Mukesh Ambani's leadership has propelled it to a dominant position across various industry segments. While neither Disney nor Reliance have issued an immediate response to the reports, the implications of this merger reverberate across the global entertainment landscape. It promises a paradigm shift in the dynamics of India's entertainment and media sectors.

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